"Buyer beware" (??) |
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Ed Valentine
Carpet Cleaning Specialist Joined: 14/September/2004 Location: United States Status: Offline Points: 770 |
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Posted: 21/February/2005 at 2:08pm |
It always amazes me whenever I see anyone selling their "used" equipment on the interent, either through the boards or elsewhere. I don't care what model or brand of equipment it is either, it always (with few exceptions) seems to be the same thing: "Hardly used", only a few times....etc.....etc.....
What gets me is that some of this equipment is 4 years old, for example ("hardly used") but only used about 10-12 times. Even I have had a hard time not laughing or placing a follow-up comment on certain Individuals whom have stated these comments. Or, a machine will be "used" (2-3 times around for example) but in "good condition"-------------and many components aren't origional; changed with inferior parts, a vac motor doesn't work, etc.....etc.....------------and they will advertise it at only $400.00 (US). What gets me here is the response from people on the boards like: "Wow-thats a great price"; "ya, I'd go for it"; "Pretty cheap for a %$#@ brand model, buy it"!!!! What I am getting at is simply, "BUYER BEWARE"! Never forget that a large majority (yes, there may be a few exceptions) of people selling "Used" equipment really are inferring that it is "USED UP" instead. I have found that most equipment in this Industry is designed to do hard work. And, therefore, many are truely USED up in the end.
BUYER BEWARE. That has been my experience, gentlemen. bet, even Ted would agree with me on this one. Good Fortune to all; Ed Valentine cross-american corp. |
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MR. STEAMER
True Patriot Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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it's a chance we all have to take....lol some times the pocket not the product that makes a sale... pay now or pay later I always say... but still you can't hang your hat higher than you can reach it |
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Rick/Magic
Groupie Joined: 16/February/2005 Location: United States Status: Offline Points: 134 |
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I find it cheaper to just buy new...but some people never learn...I finally did...my accountant is the one who talked me into selling off my used equipment and buying new...and he was right
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25 years of cleaning carpet
and my back hurts |
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MR. STEAMER
True Patriot Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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well you can only write off used equipment so much until it's worthless on the books... you'll save with new.. but I always say you'll go broke saving money |
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John L
Carpet Cleaning Guru Joined: 29/November/2004 Location: I'm Right Here! Status: Offline Points: 4013 |
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I Concur that Ed. New is the smartest business investment you can make. You WILL make your money back. Best, JL |
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MR. STEAMER
True Patriot Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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sometimes even new gives trouble
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John L
Carpet Cleaning Guru Joined: 29/November/2004 Location: I'm Right Here! Status: Offline Points: 4013 |
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All machinery does sooner or later.
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Rick/Magic
Groupie Joined: 16/February/2005 Location: United States Status: Offline Points: 134 |
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anything made by man will break down...
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25 years of cleaning carpet
and my back hurts |
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nightrider
Marketing Master Joined: 12/March/2004 Status: Offline Points: 4666 |
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Steamer that not exactly true, you can register the truckmount on someone else's name and then you can make invoices that you leased it from that person, then it is completely deductable forever at whatever price you like. $,500.00 /week is not unreasonable, and he does not have to include any taxes on the invoice and shoudln't nightrider |
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doug
King of the One Liners Just My opinion Joined: 31/January/2004 Status: Offline Points: 32711 |
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A lease has to have a beggining and an end. There has to be a buy out of some sort. If to low is will not be considered a lease. Now you can rent the equipment but applicable taxes must be shown.
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Just My opinion
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MR. STEAMER
True Patriot Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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nightrider
Marketing Master Joined: 12/March/2004 Status: Offline Points: 4666 |
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Doug and Steamer, you are both missing the point, I can lease you a 1929 imaginary truckmount for 500.00 dollars a day if you like, the government will take it as a rental and is a fair expense. I do not have to charge you taxes as long as I don't invoice over 30,000 dollars per year income less all expenses, my overhead etc etc. I thought you were talking as a deduction for tax purposes, maybe I read it all wrong. nightrider |
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MR. STEAMER
True Patriot Only in the GTA Joined: 03/March/2004 Location: Canada Status: Offline Points: 14549 |
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Yes tax deduction... I love to see what would happen to you during an audit...lol nightrider you have never been audited before have you..lol |
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Superglide Ken
Grand Potentate SGK Joined: 17/March/2004 Location: Canada Status: Offline Points: 4868 |
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Tax must be paid in the hands of the one doing the renting of the equipment. As long as the rental rate is reasonable in relation to fair market value, and income is being earned from it's use by the renter, it is a deductable expense. This is why, with the exception of vehicles, which I do lease, my equipment in the business is set up as a rental and rented to my company. Complete deduction against income, and great income splitting device to pay the least taxes by redistribution of income.
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Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs.
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